Bitcoin and Ethereum have been on a rollercoaster ride this year, with Bitcoin making a high of $19000 in December before crashing to just over $6000 at the beginning of February. The price has since recovered back up to around $8000, but why would altcoins surge despite Bitcoin’s recent struggles? This may be an indication that cryptocurrencies as a whole were already heading for trouble all along. In any case, it is likely going to take some time until Bitcoin can regain its lost momentum.
Bitcoin and Ethereum price fall toward key support levels, while altcoins surge. Read more in detail here: bitcoin price.
The crypto market’s price activity has not been for the faint of heart in the last 48 hours, and it’s evident that volatility has increased as Bitcoin (BTC) and Ether (ETH) have broken out to new all-time highs.
While the top two cryptocurrencies battle it out for crucial support levels, the altcoin market saw a slew of tokens record double-digit gains on Nov. 5, and Cointelegraph Markets Pro’s altseason indicator says current market circumstances are in line with recent altseason price movements.
Top 7 coins with the biggest price swings in a 24-hour period. Cointelegraph Markets Pro is the source of this information.
XYO Network (XYO), Crypto.com Coin (CRO), and Wrapped NXM were the top gainers in the last 24 hours, according to data from Cointelegraph Markets Pro and TradingView (WNXM).
On Crypto.com, XYO is listed.
The XYO Network is a geospatial oracle network built on blockchain that uses decentralized devices to gather, verify, and record data anonymously on the XYO blockchain.
Market conditions for XYO have been excellent for some time, according to data from Cointelegraph Markets Pro.
The VORTECSTM Score is an algorithmic assessment of past and present market circumstances produced from a variety of data points including market sentiment, trading volume, recent price changes, and Twitter activity, which is unique to Cointelegraph.
XYO pricing vs. VORTECSTM Score (green). Cointelegraph Markets Pro is the source of this information.
The VORTECSTM Score for XYO started to rise on Nov. 2 and reached a peak of 77 roughly four hours later, before the price skyrocketed 103 percent over the following two days, as seen in the chart above.
The price of XYO has risen as the token has been added to the Crypto.com app and a liquidity mining pool has been launched on Gate, with depositors earning a 543.22 percent return on their investment.
The Coinbase boost helps CRO.
CRO is the Crypto.com ecosystem’s native token, and users may stake it alongside other cryptocurrencies on the app to receive incentives, as well as use their holdings to make daily transactions using the Crypto.com Pay mobile payments app.
Prior to the latest price spike, VORTECSTM statistics from Cointelegraph Markets Pro started to indicate a favorable prognosis for CRO on Nov. 3.
The VORTECSTM Score (green) is compared to the CRO pricing. Cointelegraph Markets Pro is the source of this information.
The VORTECSTM Score for CRO started to rise on Nov. 3 and reached a peak of 76 roughly two hours later, before the price surged 64 percent over the following two days, as seen in the chart above.
Following the token’s November 3 debut on Coinbase and the signing of a multi-year partnership with esports tournament site Twitch Rivals, CRO is gaining traction.
Cryptocurrency trading platform Crypto.com is launching UFC NFTs.
Nexus Mutual has announced the commencement of a new Shield promotion.
The Nexus Mutual protocol’s wrapped version of the NXM governance token is WNXM. Nexus Mutual is a decentralized insurance protocol based on the Ethereum network that allows users to take out smart contract insurance using its native NXM coin.
Prior to the latest price spike, VORTECSTM statistics from Cointelegraph Markets Pro started to indicate a favorable prognosis for CRO on Nov. 4.
WNXM pricing vs. VORTECSTM Score (green). Cointelegraph Markets Pro is the source of this information.
The VORTECSTM Score for CRO started to rise on November 3 and reached a peak of 74 on November 4, only one hour before the price jumped 47 percent the following day, as seen in the chart above.
The price of WNXM has risen as a result of the commencement of a new shield mining campaign for the Premia Finance (PREMIA) project, as well as the platform’s progress toward the introduction of Nexus V2, which will allow the fund to pay out on partial claims.
The total cryptocurrency market capitalization is currently $2.702 trillion, with Bitcoin commanding 42.6 percent of the market.
The author’s thoughts and opinions are completely his or her own and do not necessarily represent those of Cointelegraph.com. Every investing and trading choice has risk, so do your homework before making a decision.
The “cardano price” is an example of how the market has reacted to the recent Bitcoin and Ethereum price fall. Cardano’s price has surged even as Bitcoin and Ethereum fall toward key support levels.
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